Transcript Fundamentals of Marketing Success

The Marketing Makes
the Advertising Work
DAVE BUCHHOLZ, President
David & Associates
Hastings, Nebraska
TeamDavid.com
Marketing
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It is not a battle of products
It is a battle of perceptions
It’s not what’s true that matters…
It’s what people THINK is true that
matters
What is a brand?
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It
It
It
It
It
It
It
It
It
is NOT a logo
is NOT a jingle
is NOT an ad campaign
IS a relationship
IS consistent & predictable
IS distinct and special
IS an experience
IS a promise fulfilled
IS a problem solved
The Tough Questions
• Is there really a market for this…or is it simply
something you would like to do?
• Do you expect to make a living from this? For how
many people?
• Have your family & friends told you this is a good
idea? Any research besides best wishes from people
who wouldn’t tell you that you had a bad idea?
• Who is your audience? (“Everybody” is not an
acceptable answer…)
• How many of these people are there? Where are
they? How do you reach them? Can you describe
them?
The Tough Questions
• What’s important to them? How do they think?
• Do they have a current provider? What do they
like/dislike about their current provider?
• If they don’t use your product/service, what makes
you think they need it? What problem do you solve
for your customer?
• Where do you fit in the competitive landscape? What
is your point of difference? Is it enough to make a
difference?
• Can you describe your reason for being in business in
25 words or less?
• Are you prepared to invest in
marketing/advertising??
Selling vs. Marketing
• SELLING: Concentrates on seller
• MARKETING: Focused on customer
• SELLING: What can I get you to buy?
• MARKETING: What problem can I solve for you?
• SELLING: A deal you can’t refuse
• MARKETING: I’ve got something that can help you
• SELLING: Selling what I have in stock
• MARKETING: Stocking what people want to buy
Selling vs. Marketing
• SELLING: Getting rid of what you have
• MARKETING: Offering what people want
• Offering the right product at the right place at the
right price and the right time to the right people
• Who determines what’s right?
• THE CUSTOMER!!
The Unique Selling
Proposition (USP)
• One distinct idea that sets you apart
• Many possible USPs
• Choose yours based on what you do best—and
your competitive position
• Best to choose one that fills a void—and upon
which you can deliver
• Should be concise and easily communicated
• Use it everywhere
• Consider “preemptive” marketing
The Law of Leadership
First in a category is
almost always better
than being better
Reis & Trout
The Law of Category
If you can’t be first in
a category, find a
new category in
which you can be first
Reis & Trout
The Power of Owning
One Word
There is incredible power in
owning a word or concept
in the mind of the
marketplace
Reis & Trout
Price vs. Value
• Why do people buy where they buy?
• Price is only an issue sometimes..
• Other issues: Quality, selection, service,
location, convenience, personality, status,
comfort, security, confidence, uniqueness, etc.
• Your job as a marketer is to educate your
customers that they’ve made a good decision
• You must provide logical reasons for them to
justify their emotional buying decisions
Features vs. Benefits
• When someone buys a 1/4” drill bit,
what are they REALLY buying?
• The question every consumer asks:
What’s in it for me?
• Translate benefits for the customer; do
not expect them to make the leap
• Benefits change depending on your
audience
• When someone buys your product or
service, what are they REALLY buying?
How to create benefit
statements
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Use the “So What” test
Use “you’s”
Explain what is gained…or not lost
Emotional benefit supported by logical reasoning
Use short, easy to understand words
Use action verbs (for more info…or…)
Don’t deny customers’ current satisfaction. Build on
it.
• Link benefits for impact
• Communicate value
3 Ways to
Build Your Business
• Get more customers
• Increase the frequency of purchases from existing
customers
• Increase the average purchase from existing
customers
• Two of the three ways to increase your business have
to do with the people who are already doing business
with you!
• MORAL: Take care of your existing customers!
What type of advertising
is best?
• Reaches the people you want to reach
• Does so in the most cost-efficient manner (reduced
waster)
• Does so in the most effective manner (share of
mind/response)
• Emphasizes the most important point—logically
• Helps people envision using your product/service
• Reinforces your USP
• Isn’t clever for cleverness’ sake
What advertising can’t do
• Make a bad product successful; in fact,
it can help a bad business go out of
business faster
• Overcome poor customer relations, a
bad location or sell a product that
nobody wants
• Sell a product the second time—the
customer experience will determine
that
Ask yourself…
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Who is my audience?
Do they really want what I’m offering?
Is it important to them? Why?
Why should they believe what I’m
saying?
• Am I offering something that will be
perceived as an excellent value?
5 Ideas to Take Home
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Waves of postcards
Line item for goodwill advertising
Bounce-back coupons
Don’t discount your core
product/service
• Create your USP…and use it!
Quick!
What is this ad selling?
Quick!
What is this ad selling?
THANK YOU!
Dave Buchholz
DAVID & ASSOCIATES
Hastings, NE
TeamDavid.com